Columbia, SC - Ruby Tuesday (Garners Ferry Road)

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate guaranteed, Ruby Tuesday investment property located in Columbia, SC. The tenant, NRD Capital (dba Ruby Tuesday), recently signed a brand new 20 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. As of December 21, 2017, NRD Capital, an Atlanta-based private equity firm, acquired Ruby Tuesday. Collectively, the team at NRD Capital has been involved in 20 brands, including Popeyes, Burger King, Subway, and more. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

Ruby Tuesday is located at the signalized, hard corner, 3 way intersection of Garners Gerry Road/US Highway 76, Patterson Road and Atlas Road with a combined 47,200 vehicles passing by each day. US Highway 76/378 is a primary commuter thoroughfare traveling directly into Columbia’s city center just 7 miles northwest of the subject property. Additionally, the site is located just 1.3 miles from the on/off ramp of Interstate 77 (59,300 VPD). The Ruby Tuesday is located in front of a Walmart Supercenter and across the street from a East Pointe Plaza, a regional shopping center anchored by Ollie’s Bargain Outlet, Planet Fitness, Southeastern Salvage Home, and Surplus Warehouse. Nearby national/credit retailers include Lowe’s (just 0.5 miles north), Aldi, National Tire & Battery, AutoZone, CVS, Walgreens, Aspen Dental, Firestone Complete Auto Care, Family Dollar, and more, which further increases consumer draw and promotes crossover shopping to the immediate trade area. In addition, the Ruby Tuesday is located just 6 miles southeast of the University of South Carolina, with over 34,000 students enrolled and a robust football program that brings thousands of viewers to the Williams-Brice Stadium, the 20th largest stadium in college football. The 5-mile trade area is supported by a population of more than 97,000 with an average household income of $78,000.